2 Trillion Won Investment in Satellite Communication Company Globalstar
Acquires 20% Stake and Invests 1.1 Billion USD in Cash
Terms of Pixelmate Acquisition Not Disclosed
Apple has strengthened its own services by investing 2 trillion won in a satellite communication company and acquiring an image editing app developer.
On the 1st (local time), Globalstar, a U.S. satellite communication operator, announced in a document submitted to the U.S. SEC (Securities and Exchange Commission) that it is receiving an investment of $1.5 billion (approximately 2.07 trillion won) from Apple.
Globalstar is a satellite communication operator that operates low Earth orbit communication satellites for satellite phones and low-speed data communication in the U.S. It currently operates 31 satellites.
Since 2022, Apple has partnered with Globalstar to provide a feature that allows iPhones to send emergency text messages even in remote areas without cellular or Wi-Fi coverage. Apple has been offering this feature free of charge for two years since launching the Emergency SOS feature on the iPhone 14.
Through this partnership, Apple will purchase a 20% stake in Globalstar for $400 million (approximately 552.2 billion won) and invest $1.1 billion (approximately 1.5184 trillion won) in cash. Globalstar stated that it will invest in satellite infrastructure improvements and allocate 85% of its network capacity to Apple. Following the news of Apple’s large-scale investment, Globalstar’s stock price surged 31% on the New York Stock Exchange that day.
Apple is acquiring Pixelmator, an image editing app developer. Pixelmator announced on its blog that it will be joining Apple. Specific terms related to this acquisition have not been disclosed.
Based in Lithuania, Pixelmator was founded in 2007 by brothers Saulius Dailide and Aidas Dailide. It is well known for its image editing software Pixelmator, Pixelmator Pro, and Photomator, which compete with Adobe Photoshop. The company has developed image editing apps exclusively for Apple devices such as the iPhone and the desktop Mac.
In 2018, Pixelmator Pro was selected as Apple’s “Mac App of the Year” for features such as removing distracting objects from photos and automatic color adjustment using artificial intelligence (AI). On the 28th of last month, Apple also released the first version of “Apple Intelligence,” which includes photo editing features like “Clean Up” that use AI to erase people or objects from photos.
Pixelmator stated, “Since our founding, we have modeled ourselves after Apple, focusing on sleek design, an easy-to-use interface, and high performance. For now, there will be no major changes to our software such as Pixelmator Pro.”
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